ANZ and CitoPlus launch SME loan application solution

The partnership, facilitated through ANZ’s external innovation partner 1835i, will allow brokers to apply for ANZ business lending products directly through CitoPlus’ digital platform in order to streamline the process for a “faster and more efficient service”.

According to ANZ and CitoPlus, customers will benefit from quicker broker response times and improved access to financing.

Since 1835i’s founding, the company has partnered and invested in start-ups and scale-ups that develop “innovative solutions” to attract and retain ANZ customers while building new capabilities for the major bank, such as Cashrewards.

Meanwhile, CitoPlus aims to simplify the loan application process for commercial brokers and assist them in securing funding for their SME clients at a faster pace through providing brokers with a user-friendly digital platform and giving them tools they need to close deals efficiently and securely.

This new digital solution is set to launch in 2025.

ANZ’s general manager of commercial broker and origination, Ivan Mioc, said: “As brokers’ shift to digital workflows, adopting advanced digital and data solutions is critical for improving customer interactions.”

“This partnership plays an important role in supporting business growth and simplifying the lending journey for both brokers and small to medium businesses.

”This initiative complements ANZ’s efforts to provide more digital banking options to both brokers and business owners.”

CitoPlus co-founder Graham Strain said: “We are delighted to partner with ANZ to enhance the loan application experience for brokers and business customers.

”We believe the combination of human judgement and digitisation is the future of broking. Our unique platform helps brokers work with the right information, faster and make tailored solutions easier to source.”

1835i CEO Justin Greenstein said: “At 1835i, we’re excited to have facilitated this partnership between ANZ and CitoPlus, as it shows our commitment to driving digital innovation that makes lending easier and faster for brokers and SMEs across Australia.

“Together, we’re building a finance ecosystem that connects brokers and businesses seamlessly in today’s digital-first world.”

This comes as ANZ reinforced its full commitment to the broker channel upon the release of its full-year results.

ANZ managing director for home lending, Shannon McMahon, told Broker Daily that the major bank is “fully committed” to a working partnership with brokers to “deliver quality outcomes and services” for their customers.

[RELATED: ANZ ‘fully committed’ to brokers after record high flows]

Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

E-mail Adrian at: This email address is being protected from spambots. You need JavaScript enabled to view it.